DAX weekly technical report for 14 to 18 November 2016
DAX index this week closed at 10667 with gain. This week dax hit low around 10174 while high was at 10800. Total 700+ points’ high volatile swing and positive closing for this major index. DAX this week closed with weekly gains after last 2 week’s continues strong negative closing.
Technically, DAX future is in uptrend and given breakout above 10600 level. On upside 10875 and 11090 are major resistances as well as target zones. Weekly closing below 10600 means fresh down trend and extreme volatility.
From long term view, dax is hovering around 10820 resistance above it expect long term uptrend for target 12300+.